https://www.taxtmi.com/caselaws?id=379384 The Tribunal ruled in favor of the Assessee, allowing the weighted deduction under Section 35 (2AB) of the Income Tax Act for Assessment Year 2003-2004. The Tribunal found that the Assessee had substantially met the approval condition for scientific research, despite specific approval for the assessment year being pending. Additionally, the Tribunal held that the Assessee was entitled to the deduction for expenditure on research and development (R&D) facility development without restrictions based on approval timing. However, the Tribunal ruled in favor of the Revenue regarding the levy of interest under Section 234D on the excess refund amount. en-us Tue, 19 Mar 2019 00:00:00 +0530 Fri, 13 Dec 2019 15:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379384 The Tribunal ruled in favor of the Assessee, allowing the weighted deduction under Section 35 (2AB) of the Income Tax Act for Assessment Year 2003-2004. The Tribunal found that the Assessee had substantially met the approval condition for scientific research, despite specific approval for the assessment year being pending. Additionally, the Tribunal held that the Assessee was entitled to the deduction for expenditure on research and development (R&D) facility development without restrictions based on approval timing. However, the Tribunal ruled in favor of the Revenue regarding the levy of interest under Section 234D on the excess refund amount. Case-Laws Income Tax Tue, 19 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379384